Australia's Buxton Resources slides on discounted placement

Buxton Resources

07/04/2025 02:45

** Buxton Resources BUX.AX slides 12.9% to A$0.027, lowest since March 17

** Diversified miner gets firm commitments for A$3 mln ($1.8 mln) placement

** Issue price of A$0.025 represents 19.4% discount to close on April 2, following which trading was halted

** Co says funds will be used to assess ongoing projects and for drilling and exploration at Centurion and Madman projects, which are expected to begin in Q2 and Q3 of CY2025 respectively

** BUX sheds 24.4% this year, as of last close

($1 = A$1.6656)

 (Reporting by Sherin Sunny in Bengaluru)

 ((Sherin.Sunny@thomsonreuters.com;))